Kotak Bank raises $100mn via GDSs

Kotak Mahindra Bank has raised $100 million by issuing 1.50 crore global depository shares (GDSs) priced at $6.6 per GDS (approx Rs 300 per share).

Each GDS represents one equity share of Rs 10 each. of. The issue price of $6.6 per GDS is at a premium of 4.5% to the closing price on April 19. The offer was subscribed by over four times at the issue price.

The GDS issue was launched on April 19 and closed on April 22. The GDS will be listed on the Luxemburg Stock Exchange.